SAI REPORTS DOWNTURN IN 1st-QUARTER FORTUNES IS A MOMENTARY LAPSE DUE TO STRATEGIC ADJUSTMENTS
ARLINGTON HEIGHTS, Ill.
Security Associates Intl. Inc. (SAI), the largest wholesale security alarm monitoring company in the United States, has announced its financial results for the first quarter ended March 31. The company cautions that the results reflect the sale of its retail alarm monitoring contracts as of June 30, 1999, and that its strategy is now focused on central station operations. Therefore, the 2000 results and the results of future periods will not be comparable to the results reported for prior periods. That said, revenue for the three months ended March 31 was $5.7 million, while net loss for the period was $1.3 million, or 18 cents per share.
“The first quarter reflects our sole emphasis on our wholesale alarm monitoring business as we build a national platform of regionally located central stations. In addition, SAI continues to pursue strategic partnerships as well as other central station acquisitions in order to create more business opportunities for our independent dealer network,” explains James Brannen, SAI president. SAI provides security alarm monitoring services to residences and businesses, including more than 390,000 subscribers, through a nationwide network of more than 2,700 independent security alarm installing and servicing dealers.
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